Orourke99, shareholder of Navarre Corporation ("Navarre" or the "registrant") adopted a pre-arranged trading plan dated November 5, 2009 (the "Plan"), to sell shares of Navarre common stock. The Plan was designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the registrant's policies regarding stock transactions.
The Plan provides that Mr. O'Rourke will sell up to a total of 90,000 shares of stock pursuant to the Plan over the twelve months beginning in December 2009. The Plan provides for the sale of up to (i) 45,000 shares if the registrant's stock is trading at or above $10.00, and (ii) 45,000 shares if the registrant's stock is trading at or above $15.00.